The global light field market is expected to grow at a strong 15% CAGR over the forecast period from 2017 to 2023, according to the latest research report from Market Research Future (MRFR). The global light field market is mainly driven by the growing demand for light field technology from the films and media industry as well as in 3D rendering applications in various industries. The global light field market is expected to rise to a valuation of USD 1,872 million by 2023, according to Market Research Future (MRFR).
The growing demand for computer-generated and 3D animation in movies is likely to be a key driver for the global Light Field Market over the forecast period. The visual enhancement provided by these technologies in movies has made them popular in the media and entertainment industry, which is likely to remain a leading consumer in the global light field market over the forecast period. Light field technology can play a crucial role in designing animation and graphics in movies, which has given the market steady impetus over the last few years. The growing popularity of superhero films as well as other films incorporating fantastical elements into their plotlines is likely to be a key driver for the global light field market over the forecast period, as animation and computer-generated graphics play a vital role in films of this type.
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The growing use of 3D projection technology in building construction and remodeling, in addition to other 3D modeling and scanning applications, is also likely to play a key role in the growth of the global light field market over the forecast period. Light field technology is extensively used in creating holographic depictions of designs or models, which has been a key driver for the global light field market over the last few years. The growing demand for 3D projection technology, due to the growing awareness about its utility in understanding details about the project, is likely to be a major driver for the global light field market over the forecast period.
Light Field Market Research Report – By Technology (Imaging Solution), Verticals (Healthcare) - Forecast Till 2023
The global light field market is dominated by Ricoh Innovations Corp., Panasonic Corporation, Lumii, Apple Inc., Pelican Imaging Corp., Holografika, Raytrix GmbH, Toshiba Corporation, Nvidia Corporation, Samsung Electronics Co. Ltd., Sony Corporation, Leia, OTOY, Lytro Inc., Cannon Inc., Japan Display Inc., FoVI 3D Inc., Avegant Corporation, and Light Field Lab Inc.
In May 2019, Samsung announced that it is upping the production of AMOLED displays for the U.S. in 2019.
In May 2019, MultiVu, a leading emerging player in the light field technology market, raised USD 7 million in a seed round.
The global light field market is segmented on the basis of technology, verticals, and region.
By technology, the global light field market is segmented into imaging solutions, light field display, and others. Further, the imaging solution segment is sub-segmented into 3D modeling, 3D scanning, layout and animation, 3D rendering, image reconstruction, and others.
By vertical, the global light field market is segmented into military and defense, media and entertainment, healthcare, and others.
North America dominates the global light field market and is likely to remain the leading regional revenue contributor over the forecast period due to the growing number of companies establishing their headquarters in the U.S. or paying increasing attention to the highly lucrative market conditions in the U.S. and Canada. The increasing adoption of machine learning technology in the U.S. and Canada has also provided the light field market with an increased scope, leading to favorable growth prospects over the forecast period. The strong presence of movie makers and movie making technology in the U.S. is also likely to be a major driver for the global light field market.
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Europe also holds a dominant share in the global light field market and is expected to progress at a robust growth rate over the forecast period due to the growing presence of tech giants in the region. On the other hand, Asia Pacific is a highly promising regional market for light field technology and is expected to exhibit steady progress over the forecast period.